The present invention relates generally to drop safe systems and methods, and more particularly, to a system and method of tracking cash deposited into and withdrawn from a safe for a given work day using an electronic transmission of deposit information to a cash information server.
Business establishments, e.g., convenience stores, perform numerous business transactions on a daily basis. Cash, in the form of coins, paper money, checks and so on, is often exchanged during these business transactions. To reduce the threat of theft of the cash, the cash is often deposited into a safe. Cash is deposited directly into the safe via slots (“cash drop”) or by first placing the cash into envelopes and then placing the envelopes into the safe via slots (“envelope drop”). Thus, cash is deposited without having to open the safe and, as a result, the threat of theft is reduced. However, the amount of cash deposited into the safe is not yet verified by management. Accordingly, when the business establishment wants to determine the amount of cash deposited in a given working day, the safe must be opened and the cash counted. As a result, once the safe is opened, the threat of theft is greatly increased.
Also, traditionally, operators of the safe, e.g., store managers or business owners, remove the cash and complete a deposit ticket. The deposit ticket includes information regarding the cash removed. The deposit ticket is provided with the cash both of which are transported to a bank. The bank upon receipt of the cash, reconciles the actual cash transported with the information regarding the cash transported as indicated on the deposit ticket. The bank inputs the information regarding the cash transported and appropriately updates the business account to reflect the cash transported and deposited. Thus, time is lost in counting cash, locating discrepancies, investigating shortages and preparing bank deposits.
Electronic drop safes configured with bill validators that count cash as it is collected reduces the amount of time required to count cash. Also, compiling information regarding the cash received, such as determining how much money was collected during a shift, assists in locating discrepancies, investigating shortages and preparing bank deposits. However, problems still arise in balancing a store's actual daily sales receipts with the amount of cash in the safe because the cash in the safe is typically withdrawn at times that do not coincide with the end of a business day. Therefore, cash from more than one business day is co-mingled in the safe, which requires special attention. Accordingly, a need still exists for a system that tracks deposit information to permit prompt reconciling of daily sales receipts against cash deposited into the safe.